Joby Aviation’s (JOBY) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Joby Aviation (NYSE:JOBY) in a report issued on Friday, Benzinga reports. The brokerage currently has a $10.50 price target on the stock.

A number of other equities analysts have also weighed in on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a neutral rating in a report on Wednesday, July 24th. Finally, HC Wainwright reiterated a buy rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday.

Joby Aviation Trading Up 6.1 %

NYSE:JOBY traded up $0.34 during trading hours on Friday, reaching $5.95. 18,240,520 shares of the company traded hands, compared to its average volume of 6,018,160. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $7.69. The stock has a market capitalization of $4.22 billion, a P/E ratio of -7.82 and a beta of 1.97. The business’s 50-day moving average price is $5.21 and its two-hundred day moving average price is $5.22.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same period in the previous year, the business earned ($0.17) EPS. As a group, equities analysts anticipate that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling

In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the sale, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 481,976 shares of company stock worth $2,424,045 over the last three months. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of Joby Aviation during the second quarter valued at $81,000. EP Wealth Advisors LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $165,000. Algert Global LLC bought a new position in shares of Joby Aviation during the second quarter valued at approximately $90,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Joby Aviation by 28.7% in the second quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock worth $1,266,000 after buying an additional 55,340 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.